SCS Capital Management LLC Buys Shares of 2,710 Rockwell Automation, Inc. $ROK

Key Points

• SCS Capital Management LLC has made a new investment of $700,000 in Rockwell Automation, acquiring approximately 2,710 shares of the company during the first quarter.
• Several institutional investors have increased their stakes in Rockwell Automation, including GAMMA Investing LLC, which boosted its holdings by 29,844.4%, now owning 702,794 shares valued at about $181.6 million.
• Analyst ratings on Rockwell Automation are generally positive, with a consensus rating of "Moderate Buy" and a target price averaging $340.16, although there have been some varying price targets from different firms.

SCS Capital Management LLC acquired a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,710 shares of the industrial products company's stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in Rockwell Automation by 8.5% during the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock valued at $1,401,000 after acquiring an additional 423 shares in the last quarter. CWM LLC raised its stake in Rockwell Automation by 3.7% in the 1st quarter. CWM LLC now owns 2,353 shares of the industrial products company's stock valued at $608,000 after acquiring an additional 84 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Rockwell Automation by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock valued at $1,462,000 after buying an additional 43 shares in the last quarter. Brighton Jones LLC purchased a new position in Rockwell Automation during the 4th quarter valued at about $281,000. Finally, J.W. Cole Advisors Inc. grew its holdings in Rockwell Automation by 128.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company's stock valued at $1,132,000 after buying an additional 2,466 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Insider Buying and Selling at Rockwell Automation

In other news, VP Isaac Woods sold 250 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $350.00, for a total value of $87,500.00. Following the completion of the transaction, the vice president directly owned 1,662 shares of the company's stock, valued at approximately $581,700. The trade was a 13.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cyril Perducat sold 1,435 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the transaction, the senior vice president directly owned 3,787 shares of the company's stock, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,922 shares of company stock worth $11,191,812 over the last quarter. Insiders own 0.68% of the company's stock.

Rockwell Automation Price Performance

NYSE:ROK traded down $5.57 during trading hours on Friday, reaching $344.97. The stock had a trading volume of 545,729 shares, compared to its average volume of 762,274. The stock has a market capitalization of $38.79 billion, a PE ratio of 40.49, a PEG ratio of 3.66 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. The company has a 50 day moving average price of $345.69 and a two-hundred day moving average price of $303.90. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the previous year, the business earned $2.71 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ROK. Citigroup reissued a "buy" rating and set a $392.00 price objective (up previously from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Oppenheimer lowered their price objective on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Bank of America upgraded Rockwell Automation from a "neutral" rating to a "buy" rating and upped their target price for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Barclays upped their target price on Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company set a $345.00 price target on Rockwell Automation and gave the stock an "equal weight" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $340.16.

Rockwell Automation Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.